Geode Capital Management LLC Sells 8,519 Shares of Gibraltar Industries, Inc. $ROCK

Geode Capital Management LLC reduced its stake in Gibraltar Industries, Inc. (NASDAQ:ROCK) by 1.0% during the second quarter, HoldingsChannel.com reports. The firm owned 863,978 shares of the construction company’s stock after selling 8,519 shares during the quarter. Geode Capital Management LLC’s holdings in Gibraltar Industries were worth $50,980,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Wellington Management Group LLP increased its position in Gibraltar Industries by 30.6% during the 1st quarter. Wellington Management Group LLP now owns 2,012,178 shares of the construction company’s stock valued at $118,034,000 after buying an additional 471,108 shares in the last quarter. Allspring Global Investments Holdings LLC grew its stake in shares of Gibraltar Industries by 2.9% in the second quarter. Allspring Global Investments Holdings LLC now owns 505,230 shares of the construction company’s stock worth $30,819,000 after acquiring an additional 14,009 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in shares of Gibraltar Industries by 57.8% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 479,894 shares of the construction company’s stock valued at $28,151,000 after acquiring an additional 175,769 shares in the last quarter. Charles Schwab Investment Management Inc. increased its holdings in shares of Gibraltar Industries by 5.4% during the first quarter. Charles Schwab Investment Management Inc. now owns 454,723 shares of the construction company’s stock valued at $26,674,000 after acquiring an additional 23,308 shares in the last quarter. Finally, Nuveen LLC purchased a new position in shares of Gibraltar Industries in the 1st quarter worth about $20,694,000. Hedge funds and other institutional investors own 98.39% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently commented on ROCK. Zacks Research raised shares of Gibraltar Industries from a “strong sell” rating to a “hold” rating in a research report on Tuesday, October 28th. Weiss Ratings cut shares of Gibraltar Industries from a “hold (c-)” rating to a “sell (d+)” rating in a report on Thursday. Finally, Wall Street Zen lowered shares of Gibraltar Industries from a “buy” rating to a “hold” rating in a report on Saturday, August 2nd. One investment analyst has rated the stock with a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, Gibraltar Industries currently has a consensus rating of “Reduce”.

Gibraltar Industries Stock Performance

ROCK opened at $48.14 on Tuesday. The company’s 50-day simple moving average is $61.86 and its two-hundred day simple moving average is $61.62. The stock has a market capitalization of $1.42 billion, a P/E ratio of 11.54, a P/E/G ratio of 1.05 and a beta of 1.27. Gibraltar Industries, Inc. has a 52-week low of $42.86 and a 52-week high of $75.08.

Gibraltar Industries (NASDAQ:ROCK) last announced its quarterly earnings results on Thursday, October 30th. The construction company reported $1.14 EPS for the quarter, missing analysts’ consensus estimates of $1.22 by ($0.08). The company had revenue of $310.94 million during the quarter, compared to the consensus estimate of $317.50 million. Gibraltar Industries had a return on equity of 12.91% and a net margin of 10.08%.The business’s revenue was up 12.2% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.27 earnings per share. Gibraltar Industries has set its FY 2025 guidance at 4.200-4.300 EPS. Research analysts forecast that Gibraltar Industries, Inc. will post 4.91 EPS for the current fiscal year.

About Gibraltar Industries

Gibraltar Industries, Inc manufactures and provides products and services for the renewable energy, residential, agtech, and infrastructure markets in the United States and internationally. It operates through four segments: Renewables, Residential, Agtech, and Infrastructure. The Renewables segment designs, engineers, manufactures, and installs solar racking and electrical balance of systems for commercial and distributed generation scale solar installations.